Core Insights - U.S. stock futures indicate a cautious uptick, suggesting a potential rebound after a five-session winning streak ended, with investors monitoring economic data and corporate earnings reports [1][10] Premarket Trading Activity and Futures Movements - S&P 500 futures are up approximately 0.3%, Nasdaq 100 futures have advanced around 0.4%, and Dow Jones Industrial Average futures show a gain of about 0.2% [2] - The Dow Jones Industrial Average fell 0.9%, S&P 500 down 0.5%, and Nasdaq Composite down 0.4% in the previous session [2] - Bitcoin has recovered to around $87,200 after a significant drop, positively impacting crypto-related stocks like MicroStrategy, MARA Holdings, Coinbase, Riot Platforms, and Robinhood, which are showing premarket gains of 1% to 3% [2] Notable Stock Movements - MongoDB shares surged by 24% and Credo Technology Group Holding jumped 18% after reporting quarterly results that surpassed analysts' estimates [3] - Nvidia shares advanced 1.7% on Monday and are up almost 1% further before the bell following a $2 billion investment in Synopsys [3] - Most of the "Magnificent Seven" large-cap technology firms are pointing higher, except for Apple, which is fractionally lower [3] Upcoming Market Events - The Job Openings and Labor Turnover Survey (JOLTS) data for August is scheduled for release today, while the Federal Reserve's FOMC meeting on December 9-10 is highly anticipated [4] - There is an 80% likelihood of a December rate cut, influenced by dovish statements from Fed officials [4] Earnings Reports - CrowdStrike Holdings and Marvell Technology are set to release quarterly results today, with Salesforce and Snowflake reporting Q3 results after the close [5] - Dollar Tree will issue its Q3 results pre-market on Wednesday, providing insights into consumer spending [5] Major Stock News and Developments - Nvidia's $2 billion investment in Synopsys emphasizes a focus on AI infrastructure [6] - The Walt Disney Company's shares rose 2.2% following strong box-office performance for "Zootopia 2" [6] - Coupang shares fell 5.4% due to a data breach affecting over 33 million customers [6] - Moderna shares dropped 7% after an FDA memo linked its COVID-19 vaccine to the deaths of 10 children [6] Corporate Innovations - Estée Lauder and Jo Malone launched an AI-powered Scent Advisor experience using Google Cloud's AI capabilities [7] - Sangamo Therapeutics received U.S. FDA Fast Track Designation for an investigational treatment for intractable pain [7] - Apple is reorganizing its AI ranks and hiring a Microsoft executive following the retirement of its top AI leader [7] Economic Outlook - The OECD forecasts global economic expansion to slow to 2.9% next year from 3.2% this year, with tariffs impacting growth but AI investments providing some support [9] - Eurozone inflation increased in November, making an interest rate cut by the European Central Bank less likely [9]

Core Viewpoint - Costco has filed a lawsuit against the federal government to secure a complete refund on import duties if the Supreme Court rules against President Trump's tariffs, claiming the tariffs are unlawful under the International Emergency Economic Powers Act [1][2]. Group 1: Lawsuit Details - The lawsuit was filed in the U.S. Court of International Trade in New York on November 28, and it emphasizes that Costco, as the "importer of record," is seeking a refund due to the uncertainty surrounding the tariffs [1][2]. - Costco has not specified the dollar amount it is seeking in damages but highlights the necessity of the lawsuit to ensure refund rights, as importers are not guaranteed refunds without legal action [2]. - The lawsuit claims that Customs and Border Protection (CBP) denied Costco's request to delay the calculation of the total tariffs owed, which could significantly impact Costco's ability to receive a refund [3]. Group 2: Context and Industry Impact - Costco is one of the largest companies to challenge the administration's tariffs, joining other firms like Bumble Bee Foods and Revlon in seeking to protect their refund rights [4]. - The Supreme Court heard a separate case regarding Trump's tariffs on November 5, where justices expressed skepticism about the legality of imposing such tariffs under the International Emergency Economic Powers Act [5][6]. - Legal experts noted that the justices' concerns included the potential loss of Congressional control over tariffs, which is constitutionally granted to lawmakers [7].

Core Viewpoint - Costco has joined a growing number of companies suing the Trump administration over tariffs imposed under the International Emergency Economic Powers Act (IEEPA), with expectations that the government is likely to lose the case [1][3]. Group 1: Legal Context - The IEEPA allows the President to impose trade restrictions during a national emergency, which the Trump administration has used to implement tariffs on various imports [3]. - The legality of these tariffs has been challenged in court, with previous rulings indicating that the IEEPA does not authorize such tariffs [4][9]. Group 2: Lawsuit Details - Costco filed its lawsuit on November 28, seeking a declaration that the tariffs are illegal, an injunction against further tariffs, and a full refund of all tariffs paid [4]. - The lawsuit reflects concerns that even if the Supreme Court rules against the Trump administration, companies may not automatically receive refunds for tariffs already paid [4][8]. Group 3: Broader Implications - Other notable companies, including Revlon and Kawasaki, have also filed similar lawsuits, indicating a trend among both large and small businesses to seek refunds for tariffs [6]. - The potential financial implications for the U.S. government could involve repaying a significant portion of the $195 billion in tariffs collected as of September 30 [8]. Group 4: Legal Strategy - The lawsuits are positioned as class actions to ensure that all affected parties can seek relief, given the uncertainty surrounding individual claims for refunds [7][9]. - Legal experts suggest that the outcome of these cases could set a precedent for how tariffs are handled in the future, particularly regarding the scope of judicial remedies available [9].

Core Viewpoint - Costco Wholesale is experiencing a rare off year, with its stock performance flat while the S&P 500 has increased by 17%, raising questions about whether this presents a buying opportunity or a reason to avoid the stock [1]. Group 1: Company Performance - Costco continues to show robust growth, benefiting from its membership model that provides reliable recurring revenue and profits, which remains strong despite inflation and tariff concerns [1]. - The company performs well during recessions, as it sells essential items at low prices, making it a go-to option for consumers [1]. Group 2: Membership Model - While the membership fee may deter some potential buyers, it proves worthwhile for customers who shop frequently, fostering loyalty, high volume, and increasing sales [2]. Group 3: Financial Metrics - Costco's current market capitalization stands at $404 billion, with a current stock price of $911.96 [3]. - The stock has a P/E ratio that has decreased from over 60 to 50, indicating a high valuation despite being lower than the previous year [4]. Group 4: E-commerce Expansion - The company is expanding its e-commerce and digital presence, including online sign-ups and renewals, which investors are monitoring for its impact on business [5]. Group 5: Investment Outlook - Long-term investors may find this period an attractive time to buy shares, as Costco has several favorable conditions and a strong business model that thrives in various circumstances [6].

Multinational retailer Costco has taken the unusual step of suing the US government to ensure it can recover import duties should the Supreme Court ultimately rule that former President Donald Trump l... ...

11 月 5 日，美国最高法院就特朗普关税政策举行了听证会。大法官们将此案纳入快速审理程序，但未 透露计划何时作出裁决。在此期间，各类规模的企业纷纷提起诉讼，提出相似的法律主张 —— 核心目 标是避免一种不确定性：若法院作出不利于特朗普的裁决，企业能否获得退款将无法保障。 好市多的律师表示，11 月 28 日向美国国际贸易法院提起的这项诉讼，源于一种不确定性：若最高法院 判定关税非法，所有已缴纳关税的企业能否获得退款，目前并无保障。 该诉讼未具体说明，截至目前特朗普的关税政策已给好市多造成多少成本损失。 好市多主张，法院需立即介入干预，原因是美国海关与边境保护局（Customs and Border Protection）拒 绝了该公司的一项请求。该请求希望延长 "关税裁定最终确定期限"，而这一期限是依据特朗普所动用 的《国际紧急经济权力法》设定的。好市多称，这一拒绝可能会损害其未来寻求全额退款的能力。 好市多未立即回应置评请求。 白宫发言人库什・德赛在一份声明中表示："若未能维护特朗普总统合法的关税政策，其经济后果将极 为严重，此次诉讼恰恰凸显了这一事实。白宫期待最高法院对此事作出迅速且恰当的裁决。" 好市 ...

Market Volatility and Tariffs - The introduction of new tariffs by President Trump in April 2025 led to significant declines in global stock markets, with the S&P 500 dropping below 5,000 points and European indices like Germany's DAX and France's CAC 40 falling by 10% and 6.6% respectively in a single session [2][3] - The International Monetary Fund (IMF) estimated that a 20% tariff rate could reduce global growth by more than 1% through 2026 and contribute between 0.6 to 1 percentage point to core inflation [3] Company-Specific Developments - Costco is suing the Trump administration for a refund on tariffs, with analysts suggesting it could be a "tariff winner" despite a 2% drop in its stock after mixed Q2 earnings [4] - Costco's stock has fallen less than 1% in 2025, outperforming the S&P 500, which has seen a 15% decline year-to-date [4] UK Pharma Deal - The US and UK reached a deal on December 1, 2025, to establish zero tariffs on British pharmaceutical products, but Britain will pay 25% more for new U.S. medicines [5] - Market reactions to this deal were muted, with shares of UK drugmakers GSK and AstraZeneca showing little change [5] Spain's Defense Spending - Spain faces potential tariffs due to its reluctance to meet a 5% of GDP defense spending target set by President Trump, highlighting the use of trade penalties as leverage for military budgets [7] Federal Reserve Leadership Speculation - Speculation surrounding the next Federal Reserve Chair has introduced volatility into various markets, with expectations of faster rate cuts under a new, potentially more dovish chair [9] Trump Media & Technology Group - Trump Media & Technology Group (DJT) has seen its stock decline significantly, trading near $11 as of November 2025, with forecasts for December ranging widely from $15 to $67.83 [10] Overall Market Trends - On December 1, 2025, U.S. stocks experienced declines, with the Dow Jones down 0.9% and the S&P 500 down 0.5%, attributed to rising Treasury yields and expectations regarding the Federal Reserve [11] - The market remains characterized by volatility driven by political developments and tariff threats, indicating a challenging environment for investors [12]

新华社纽约12月1日电（记者施春）美国大型连锁超市开市客近日对特朗普政府提起诉讼，要求法院裁 定其所有依据美国《国际紧急经济权力法》征收的所谓"对等关税"均属非法，并寻求将税款"全额退 款"，成为最新一家通过法律途径寻求关税退款的大型企业。 ...

Costco sues Trump administration for 'full refund' of tariffs https://t.co/TmyElafAJR ...

Core Point - The retailer is among the largest companies seeking a refund if the Supreme Court overturns emergency tariffs [1] Group 1 - The retailer is one of the biggest companies affected by the potential Supreme Court decision regarding emergency tariffs [1]